RIGA - It appears that the ruling coalition has come to terms regarding the temporary residence permits, said Latvian Prime Minister Valdis Dombrovskis to reporters after the Unity Saeima group’s meeting on Oct. 9, reports LETA.
An extraordinary coalition council meeting will be called on Oct. 10 to endorse the agreement. Dombrovskis confirmed that the compromise was also supported by All for Latvia-For Fatherland and Freedom/LNNK, adding that the party’s “final reaction” would be confirmed during the coalition council’s meeting.
The Reform Party Saeima group’s chairman, Edmunds Demiters, also said after the group’s meeting that the Reform Party supported the agreement proposed by Dombrovskis.
The proposed agreement stipulates an annual quota of 700 temporary residence permits for investments of over 150,000 euros, and 100 more permits for investments of over 500,000 euros, said Dombrovskis.
The number of such investments or transactions will further decrease by 175 in the coming years, and the system of temporary residence permits will end in 2016.